Brussels, Dec 17: The European Union (EU) on Monday said it would consider suspending sanctions against Iran if the country implements its commitments pertaining to the nuclear issue "in good faith", Xinhua reported.

According to a EU conclusion adopted by the 28-member bloc's foreign ministers, the EU welcomed the recent success in nuclear talks and endorses the agreement on a joint plan of action reached on Nov 24 in Geneva, between the P5+1 group -- namely the US, Britain, France, Russia and China plus Germany -- and Iran.

The statement said the agreement was a long-awaited signal of the commitment of all sides to build trust and reduce tensions and to continue diplomatic efforts towards a comprehensive solution to major concerns about Iran's nuclear activities.

"A swift implementation of the voluntary measures by all sides is now key," it said. "Iran has to implement its commitments in good faith."

The foreign ministers said the bloc was committed to take the necessary steps to suspend sanctions as set out in the joint plan of action immediately after the IAEA verifies the implementation of the nuclear-related measures by Iran, and on the basis of a recommendation by the EU's foreign policy chief Catherine Ashton.